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Compute the inventory cost using the last-in first-out

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Reference no: EM132813909

Question - The units of an item available for sale during the year were as follows:

Jan 1 Inventory 24 units at 129

April 15 Purchase 137 units at 114

September 9 Purchase 28 units at 125

There are 34 units of the item in the physical inventory at December 31. The periodic inventory system is used. Compute the inventory cost using the last-in, first-out (LIFO).

Reference no: EM132813909

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